May 18, 2024

Air Belgium has determined to stop its scheduled passenger operations efficient October 3, 2023, and has filed for court-supervised reorganization.

The airline has operated flights on behalf of different airways (moist lease), and they’ll proceed these operations and cargo flights.

You possibly can entry Air Belgium right here.

The airline will function scheduled flights to South Africa and Mauritius till October 2, 2023, and can rebook passengers on different airways for his or her return sectors previous that date. If passengers haven’t began their journeys by October 3, they’ll anticipate to see a refund.

An Excerpt from Aviation24 (entry right here):

Confronted with a greater than unstable socio-economic and geopolitical atmosphere and in view of the truth that an airline has to plan for cycles of three to five years, Air Belgium’s Board of Administrators has taken quite a few choices to make sure the long-term viability and progress of the corporate which has a employees of 500 folks, particularly to:

1. Focus on the 2 worthwhile traces of enterprise that provide progress prospects: The actions of cargo and ACMI (Plane, Crew, Upkeep and Insurance coverage, or moist lease), i.e. the leasing of plane between airways for passenger and cargo flights, represent two worthwhile traces of enterprise with progress prospects.

2. Discontinue the scheduled Passenger enterprise: regardless of the numerous investments by Air Belgium in recent times and the strengthening of business initiatives, the Passenger enterprise remains to be unprofitable. After quite a few research, Air Belgium’s Board of Administrators reached the conclusion that turning a revenue on this entrance would require substantial investments along with these already made in recent times, which has not been doable.

3. Provoke judicial reorganisation proceedings by means of amicable settlement to make sure the corporate’s long-term viability and progress and to offer it time to reorganise internally round these two segments.

Conclusion

You could have seen Air Berlin planes in airports the place they don’t have scheduled flights or ended up on flights they’ve operated on behalf of others, corresponding to British Airways.

It’s attention-grabbing to see if they’ll pull by the reorganization as a result of the moist lease market received’t keep scorching endlessly (many community carriers have been brief on employees and planes after the pandemic), and there are established cargo airways.